Causes of China's current economic development pattern

• 来源期刊: 中国财政与经济研究（英文版）
• 关键词: economic development pattern government institutional reform
• 年，卷（期）: 2014,（4）
• 页码范围: 36-51
• 页数: 16页
• 语种: 英文

摘要

At the beginning of the 21st century,China's economy entered a period of rapid growth and current economic development pattern was formed.Despite the rapid growth of the economy,the current development pattern has caused divergence from the aim of development,stagnation of the means of development,and distortion of the drivers of development.The cause of the current economic development pattern is one where market-oriented reforms are pushing local governments to shift roles from profit entities to market entities,but local governments are failing to undertake the responsibilities of the market and have been exceeding their authority,ignoring their roles,or misplacing their efforts for some time.If the current economic development pattern is not changed,China could either fall into the "middle-income trap" or the "resource-exhaustion trap."